OVM 2.0 Release Dates

OVM 2.0 is already released on the Kovan test network. We expect to deploy it to the production Optimistic Ethereum network on November 11th.

# Transaction Fees in OVM 2.0

OVM 2.0 Page

This page refers to the new state of Optimistic Ethereum after the OVM 2.0 update.

# Fees in a nutshell

Fees on Optimistic Ethereum are, for the most part, significantly lower than on the Ethereum mainnet. Every Optimistic Ethereum transaction has two costs:

You pay the sum of two fees: Your L2 (execution) fee and your L1 (security) fee. At a high level, the L2 fee is the cost to execute your transaction in L2 and the L1 fee is the estimated cost to submit your transaction to L1 (in a rollup batch).

  1. L2 execution fee is charged as tx.gasPrice * l2GasUsed (up to tx.gasLimit). You can check the current L2 gas price here (opens new window). At time of writing the L2 gas price is 0.001 gwei, however this can vary depending on network congestion.

  2. L1 security fee is automatically charged as l1GasPrice * l1GasUsed. This is the cost of storing the transaction's data on L1.

    • l1GasPrice is the same as the normal gas price in L1 Ethereum
    • l1GasUsed is calculated as 1.5*(2750 gas + calldataGas). Thus, more calldata your transaction includes, the more expensive your L1 fee will be. For example, an ETH transfer has no calldata, so it will have the cheapest L1 fee, whereas large contract deployments can have over 25kb of calldata and will result in a high L1 fee. We currently add a 50% overhead to the L1 fee to ensure the fee paid covers the actual L1 costs.

To get ETH on Optimistic Ethereum you can deposit ETH via https://gateway.optimism.io/ (opens new window) on both Kovan or Mainnet. Soon you will be able to also deposit ETH for slightly cheaper via https://hop.exchange/ (opens new window)